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Tuesday, March 28, 2023

US futures fall ahead of FOMC minutes; US Retail Sales and More Market Matters Today

European markets operate without a defined direction, while New York futures indices retreat this Wednesday (17) morning, with investors awaiting the release of the minutes of the last meeting of the Federal Reserve’s Open Market Committee (FOMC).

Beyond Fomc’s minutes, markets should reflect July’s US retail sales, with Refinitiv Consensus forecasting monthly growth of 0.1% compared to June.

Most of the Asia-Pacific stock exchanges, especially Japan’s Nikkei, closed higher after better-than-expected export numbers. China’s major index rose on the back of recovery in Chinese food giant Meituan.

In Brazil, the August IGP-10 will be released in the morning, while at 5:00 pm, the Minister of Economy, Paulo Guedes, will attend a TAG event.

See more highlights:

1. World Scholarship


US futures traded lower on Wednesday after spot indexes climbed for five straight sessions, as investors awaited the release of retail sales data for the month of July, looking to see if consumers were aware of the impact of rising inflation and higher gasoline prices. How are you managing.

According to the Dow Jones, economists expect the report to show consumers increased spending by just 0.1% in the month.

Furthermore, investors await clues about the pace of monetary tightening with the release of the minutes of the latest Fomc meeting.

Watch the performance of futures markets:

  • Dow Jones Futures (USA), -0.26%
  • S&P 500 Futures (US), -0.40%
  • Nasdaq Future (USA), -0.55%


Japan’s Nikkei rose 1.23% after the country posted better-than-expected export growth for July from a year earlier. Export growth of 19% exceeded the 18.2% expected by analysts in the Refinitiv survey. The Shanghai Index also closed positive at 0.45% and the Shenzhen Component at 1.01%. Hong Kong’s Hang Seng Index was up 0.46%.

In South Korea, the Kospi turned losses after a positive start, with major stocks likely to fall 0.67% as profit-taking. The big losers at the close of the market were Hyundai Motor 3.8%, Kia 4.02% and Seah Steel Holdings 2.75%.

  • Shanghai SE (China), +0,45%
  • Nikkei (Japan), +1.23%
  • Hang Seng Index (Hong Kong), +0,46%
  • Kospi (South Korea), +0.31%


Apart from the latest UK inflation data for July, European markets act with no clear direction as investors rally for preliminary eurozone gross domestic product (GDP) data for the second quarter.

The UK consumer price index rose 10.1% year over year, above the Reuters consensus forecast of 9.8% and up from 9.4% in June. Core inflation, which does not include energy, food, alcohol and tobacco, was 6.2% in the year to July 2022, up from estimates of 5.8% and 5.9% in June.

Eurozone GDP grew by 3.9% in the second quarter of 2022, lower than the consensus of 4% compared to the same period last year. The index rose 0.6% compared to the previous quarter.

  • FTSE 100 (UK), -0.17%
  • DAX (Germany), -0.33%
  • CAC 40 (France), -0.23%
  • FTSE MIB (Italy), +0.34%



US oil and fuel inventories have declined over the past week, according to data from the American Petroleum Institute ( Associated PressI) on Tuesday.

Oil reserves fell by about 448,000 barrels in the week ended August.

  • WTI oil, +0.50%, at $86.96 per barrel
  • Brent Oil, +0.45%, USD 92.76 or . Feather
  • Iron ore trading on the Dalian Exchange declined by 4.34% to 684.00 yuan, equivalent to US$100.94.


  • Bitcoin, -0.93% at $23,821.80 (from 24 hours ago)

2. Agenda

International agenda brings relevant data. The main one is the minutes of the last meeting of the Federal Reserve, the American Central Bank’s Open Market Committee (FOMC), at 3 p.m. The Monetary Authority in its last meeting accelerated the tightening, raising interest rates by 75 basis points.

Today is also the turn of retail data, almost this month. The average of market estimates points to a growth of 0.1% compared to June.


8:00 am: August IGP-10, Refinitiv consensus points to 0.60% drop

10:00 am: Podardata election polling

1:30 P.M.: Roberto Campos Neto, President of the Central Bank, meet to discuss legislative matters with Senator Marcelo Castro (MDB/PI), Renato Melo, adviser and Romero Aruda, adviser (closed to press)

2:30 pm: Weekly exchange rate flow

3:00 PM: Campos Nato holds a meeting with representatives of the Ministry of Defence, the military and POPEX (closed to press)

5 pm: Economy Minister Paulo Guedes attends TAG SUMMIT 2022 event

Inside Results – InfoMoney

hey infomoney A series of Por Dentro dos Results project interviews with CEOs, CFOs and other executives of publicly traded companies in Brazil, leading up to 19 August. Check out the day’s agenda:

3 p.m.: PDR interviews Sergio Caria, CEO and Carolyn Leonard, CFO and DRI at Mills (MILS3).

5 p.m.: Interview with Alex Malfitani, CFO and Co-Founder of Azul (AZUL4)


9:30 am: July retail sales up 0.1%, Refinitiv consensus projects from June

11 am: June trading list, Refinitiv consensus points to 1.4% monthly growth compared to May

11:30 am: Oil Stocks (IEA) Weekly

15 hours: Ata do Fomasi

3:20 p.m.: Speech by Fed Director Michelle Bowman

3. New TSE President Defends Democracy and Electoral System in Inaugural Speech

This Tuesday, the new president of the Superior Electoral Court (TSE), Minister Alexandre de Moraes, defended democracy and the electoral system during his inaugural speech.

Early in the evening, Moraes assumed the presidency of TSE, after minister Edson Fachin served a two-year term. The new vice president is Minister Ricardo Lewandowski.

The new president began his speech by saying that electoral justice operates with transparency and respects its history and business of realizing democracy.

ICMS limits can be revised if states lose revenue, says Geddes

The economic team could review the tax limit on the movement of goods and services (ICMS) if states prove a loss of revenue, Economy Minister Paulo Guedes said yesterday. He participated in a conciliation hearing between the states and the union promoted by Minister Gilmour Mendes, the respondent for the case in the Federal Supreme Court (STF).Us Futures Fall Ahead Of Fomc Minutes; Us Retail Sales And More Market Matters Today

The participation of Paulo Guedes in the official agenda was not expected. During the speech, the Minister said that the Federation units are continuing with full cash and with ICMS fixing the limit, any loss of revenue resulting in the proposal can be reviewed.

4. covid

According to information received from the Union of Press Vehicles at 8 pm, last Tuesday, Brazil recorded 213 deaths and 21920 Covid-19 cases in 24 hours.

The moving average of Kovid deaths in Brazil in 7 days was 176, which is 16% lower than the level 14 days ago.

The moving average of new cases in seven days was 19,058, a decrease of 39% from the level 14 days ago.

The number of people who are fully immunized against Kovid in Brazil reached 169,669,785, equivalent to 78.98% of the population.

The number of people who took at least the first dose of the vaccine reached 180,406,825 people, which is 83.98% of the population.

Booster doses were given to 101,300,184 people or 47.15% of the population.

5. Corporate Radar

Petrobras (PETR3 PETR4) informs that it has begun the teaser disclosure phase, referring to the sale of 40% of its interest in the BM-POT-17 exploratory concessions, including the discovery for the Pitu well. Assessment plan. being developed (blocks POT-M-853 and POT-M-855), and concession POT-M-762_R15 (block POT-M-762), the Potiguar Basin – the equatorial margin – is located in deep water on the coast of Rio Grande do Norte K. Petrobras currently has a 100% interest in these concessions and will continue to operate the partnership after the sale.

The state-owned company also informed that it has received from shareholders, who jointly more than 5% stake in the company’s ON shares, multiple voting in the election of members of the board of directors at next Friday’s EGM. Request to adopt (19), especially digitally. In the statement, the state-owned company says that the Remote Voting Bulletin (BVD) communicated to the shareholders for the EGM has already included the possibility of multiple voting and sent through available channels duly complete and timely. Their votes will be counted in BVD. Election to the Collegiate.

Via’s Board of Directors has approved Sergio Augusto Franca Lemay, Administrative Vice President, for the position of IR Director of the Company.

Orivaldo Padilha remains the company’s Vice President of Finance (CFO).

CCR (CCRO3) informed that Marco Antonio Souza Coduro has submitted his resignation letter from the position of Chief Executive Officer, which was accepted by the Company’s Board of Directors.

Viz reported that, on Tuesday (16), the preconditions for the closure of operations with Polishop Retail Group were applied.

With the conclusion of the transaction, Wiz becomes the holder of 50% of the shares of Polishop Corretora de Seguros, a new insurance broker established to sell insurance products through Polishop’s distribution channels, specifically at the conclusion of the transaction. for a period of 10 years. ,

(with Estadio, Reuters and Agencia Brasil)

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World Nation News Desk
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